Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

The knapsack problem appears in many forms in economics, engineering, and business where one must allocate a single scarce resource among multiple contenders for that

image text in transcribed

The "knapsack problem appears in many forms in economics, engineering, and business where one must allocate a single scarce resource among multiple contenders for that resource. The table below shows information on the material cost demand and production hours for parts in a cylinder head machining plant. Five parts are to be considered for an automated FMS for the plant. The parts were initially sourced from a vendor at a purchase prices given in the table below. Because of the proposed 2 shifts, the shop will be available 500 hours / month and charged at R2000 / hour. Part type 1 2 2 3 4 4 5 1. Purchase price (R) / unit ( 6000 5500 8000 7000 5000 2. Material cost(R) 600 500 100 800 900 3. Demand/month 80 50 60 90 40 4. Hours/ unit 2 1 4 3 2 5. Savings / unit 6. Hours / month, pi 7. Savings / hour 8. Savings / month, si 9. si/pi Savings per unit for part type 1 Choose... Savings per unit for part type 2 Choose... . Savings per unit for part type 3 Choose... Savings per unit for part type 4 Choose... Savings per unit for part type 5 Choose... + 51/p1 Choose.... 52/P2 Choose... . 5/pa Choose... 54/p4 Choose... s/ps Choose... In order, part types to be added to the FMS Choose... Total savings, rands, derived by adding parts to the FMS Choose.. The "knapsack problem appears in many forms in economics, engineering, and business where one must allocate a single scarce resource among multiple contenders for that resource. The table below shows information on the material cost demand and production hours for parts in a cylinder head machining plant. Five parts are to be considered for an automated FMS for the plant. The parts were initially sourced from a vendor at a purchase prices given in the table below. Because of the proposed 2 shifts, the shop will be available 500 hours / month and charged at R2000 / hour. Part type 1 2 2 3 4 4 5 1. Purchase price (R) / unit ( 6000 5500 8000 7000 5000 2. Material cost(R) 600 500 100 800 900 3. Demand/month 80 50 60 90 40 4. Hours/ unit 2 1 4 3 2 5. Savings / unit 6. Hours / month, pi 7. Savings / hour 8. Savings / month, si 9. si/pi Savings per unit for part type 1 Choose... Savings per unit for part type 2 Choose... . Savings per unit for part type 3 Choose... Savings per unit for part type 4 Choose... Savings per unit for part type 5 Choose... + 51/p1 Choose.... 52/P2 Choose... . 5/pa Choose... 54/p4 Choose... s/ps Choose... In order, part types to be added to the FMS Choose... Total savings, rands, derived by adding parts to the FMS Choose

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

European Financial Reporting Adapting To A Changing World

Authors: J. Flower

2nd Edition

0333685180, 9780333685181

More Books

Students also viewed these Accounting questions